WASHINGTON, DC — Following today’s hearing in the Senate Energy and Natural Resources Committee on the effects of gas prices due to domestic oil production, refining and distribution, Tom Buis CEO of Growth Energy released the following statement:
“It truly is unbelievable the gall of the oil executives who testified on Capitol Hill today. Time and time again they continue to point the finger at someone else, when they should just look in the mirror when it comes to the blame for high gas prices. It’s simply one excuse after another with them.
“They continue to tout new oil reserves and increased domestic production at home, when all consumers see is a corresponding rise in the price at the pump. For years Big Oil has said if they drill more, prices will go down. Instead, at record production levels motorists are experiencing record prices and oil executives are raking in record profits. How much longer will the American public tolerate this deceptive, monopolistic behavior?
“Don’t be fooled by what Big Oil may say – they are against any alternative that is less expensive, reduces our dependence on oil and takes away any of their market share. They say fuels like E15 are mandated, but that is simply not the truth. E15 is a voluntary choice for both the consumer and the retailer – so if they are so concerned about a fair and open marketplace, why are they then erecting barriers every step of the way to prevent consumers from the choice of a less expensive, homegrown American alternative that is cleaner, creates jobs and contributes to our energy security?
“The bottom line is oil companies are afraid of competition and they continue to do anything to avoid a free and open marketplace that includes renewable fuels. They are purposely preventing a choice and savings at the pump at the expense of the American motorist.”